Light Detection and Ranging (LiDAR) sensors are detection systems that estimate how far an object is by illuminating it with pulsed laser light. The light measures the reflected optical pulse emitted by the object, and depending on the wavelengths and laser return time, the system measures the distance to the target object and offers a digital representation onscreen. This method is called Time of Flight. LiDAR sensors functions on cutting-edge technology and the industry is relatively R&D-intensive.

Rapid growth of this market is attributed to rising demand from automotive OEMs for application in self-driving cars and Advanced Driver-Assistance Systems (ADAS). In addition, technological superiority of LiDAR over other available sensors in the automotive industry such as RADAR and cameras, increasing popularity of semi-autonomous vehicles, stringent government regulations for vehicle safety, efforts by car manufacturers to adopt LiDAR for fatality reduction, especially during night driving, are primary factors fueling growth of the global automotive light detection and ranging (LiDAR) sensors market. However, high cost of technology and low volumes of sales currently could hamper growth of the market.

Depending on level of automation, different levels of LiDAR are required. Low level of automation requires single LiDAR to be integrated as lesser amount of surrounding data is required. In the same way, as the level of automation increases, multiple LiDAR will be required. Currently, LiDAR levels 3 and 4 have high demand. However, LiDAR levels 2 and 5 are in the development phase.

Europe accounts for majority revenue share in the global automotive light detection and ranging (LiDAR) sensors market owing to presence of a high number of autonomous vehicle OEMs and various LiDAR manufacturers in the region. Key players in countries in Europe are focused on strengthening customer base and expanding market footprint by adopting strategies such as entering into partnerships and collaborations with global players.

North America market is expected to lead in the next 10 years owing to focus on more technological advancements, and also because there is presence of several emerging players in the market in this region. Demand for automotive LiDAR in Asia Pacific is limited; however, due to presence of automakers in some countries in Asia Pacific and rising demand for mid-segment automated vehicles, demand for LiDAR sensors is expected to increase exponentially over the forecast period.

OUR CLIENTS

Don't just take our word. We are trusted by these great companies!

MARKET RESEARCH REPORTS

Prudour Pvt. Ltd. delivers customized research solutions by actuating its broad spectrum of research methodologies, databases, and resources, and this is further strengthened by our global experience in syndicated and customized industry projects.